Strategy is the door to your success, and choosing the right one is the first step to do as a new entrepreneur. What books should you pick to read? Here are eight of the most influential books on business strategy and management.
“Good to Great: Why Some Companies Make the Leap and Others Don’t” by Jim Collins
This book by Jim Collins is a must-read if you intend to start a business. The main subject is all about the strategy you draw up and how to develop it. Jim Collins points out the key elements of strategic management: disciplined people, thought, and action.
Don’t be distracted by other complex instructions. When you have disciplined people, you have disciplined thoughts. When you have disciplined thoughts, you have disciplined actions. Moreover, the book is a valuable resource to acknowledge factors influencing strategic management strongly in your business.
“Start with Why” by Simon Sinek
The title indicates the core message of the book clearly, and if you understand the following quote of Simon Sinek, the deeper you understand the book’s core message:
“People don’t buy what you do; they buy why you do it.”
The author is sending a simple message that you have to ask yourself why you start your business. This question will arouse a mission in mind, and then you formulate a strategy around it. Furthermore, you will always find the best way to communicate with your employees when you constantly ask the question Why?
This book deserves huge recognition from many successful entrepreneurs, and you will be intrigued by this piece after the first pages.
“The Power of Habit” by Charles Duhigg
Two kinds of habits are essential for new entrepreneurs: habits for themselves and their companies.
Habit is simply a mix of repeated actions that we take every day, and the more they are positive, the more you will control your daily routine. Mainly, constant activities like reading books, motivating others, and broadening knowledge in your industry are examples of positive habits. The author points out a concept called “Keystone Habit,” in which small changes in your daily lives can create small wins.
The principle is the same for your organization, and the employees must be on the frontline to follow company habits. For instance, dealing with customers and difficult situations is the key guideline that every entrepreneur has to impose.
“Emotional Intelligence” by Daniel Goleman
Once again, your employees have emotions, and their morale is the key to maximizing engagement. Therefore, all you need is emotional intelligence (EQ) to communicate with them. This book is a useful source to boost your EQ which is vital for your strategic management.
There is an ultimate truth: your employees make your goals come true. Under your strategy, they are invaluable resources in the company, so you must treat them with motivation and positive energy based on self-awareness and self-regulation.
Especially after a tough year of the pandemic, you must boost your employees with the EQ.
“Mindset: The New Psychology of Success” by Carol Dweck
This writing will change your understanding of skills. They are not rigid elements to follow from time to time. Instead, skills are new, flexible, and innovative every day.
You have two options for your mindset: fixed or growth. A fixed mindset gives you certainty and short-term results. Meanwhile, a growth mindset keeps your achievement consistent and helps you expand your business to the next level.
Don’t be fooled by short-term results, which won’t help you survive through severe difficulty. A growth mindset takes you out of your comfort zone to find new challenges and lessons from failure.
“80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More” by Perry Marshall
An example of the 80/20 Principle is that 80% of your profits come from 20% of your customers. The same thing happens to your effort, results, and in this case, marketing.
If you read this book, you acquire all the knowledge which the author spent ten years writing. When starting a business, you need to prioritize focusing on strategic works and avoiding trivial tasks. The reason is that 80% of your results come from only 20% of your actions. Perry Marshall broadens the principle 80/20 to a more profound level in the sale and marketing aspect.
“Deep Work: Rules for Focused Success in a Distracted World” by Cal Newport
According to the author, deep work is the skilled activity people do with the maximum concentration to exploit their cognitive capabilities. This work focuses on quality, not quantity, and produces new value for your company. Strategic management is deep work, and you need to put all of your efforts into developing it.
When drawing up any plan, successful entrepreneurs always ask themselves if what they are doing is vital for their strategy.
If you keep your deep work constantly, other companies cannot catch up with you because you improve the work efficiency. After a tough year of the pandemic, these valuable books deserved your reading time, and the Aspire360 team always thinks about motivating startups like you to recharge their energy.